Fortitude Family Office LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Fortitude Family Office LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 24.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,531 shares of the computer hardware maker’s stock after purchasing an additional 2,250 shares during the period. NVIDIA comprises approximately 0.6% of Fortitude Family Office LLC’s portfolio, making the stock its 29th biggest holding. Fortitude Family Office LLC’s holdings in NVIDIA were worth $1,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Quest Partners LLC purchased a new position in NVIDIA during the second quarter worth $27,000. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $138.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $45.83 and a 12 month high of $152.89. The company has a fifty day moving average price of $138.51 and a two-hundred day moving average price of $126.04. The company has a market cap of $3.40 trillion, a PE ratio of 54.65, a P/E/G ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVDA shares. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Morgan Stanley raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. HSBC boosted their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Sanford C. Bernstein raised their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the sale, the chief executive officer now owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,676,986 shares of company stock worth $201,778,799 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.